One of the most popular cryptocurrency exchanges in the world Binance has announced transferring of 1 million ethereum (ETH) between its cold wallets.
Binance CEO, Changpeng Zhao, said on Twitter:
“We will be moving some funds between our cold wallets. A tell tale sign of a new cold wallet on Binance is two small transfers from and BACK TO an existing wallet, then a large transaction.”
We will be moving some funds between our cold wallets. A tell tale sign of a new cold wallet on Binance is two small transfers from and BACK TO an existing wallet, then a large transaction. No need to be alarmed. Funds are #SAFU.
— CZ Binance (@cz_binance) October 20, 2018
It’s still unclear, why the administration of Binance decided to move its funds, however, after in and out test transaction, 100,000 eth were sent to the new address and then 888,888.
That's quite symbolic, because 8 is a lucky number in China.
According to the information provided by Santiment, such transferring from crypto exchange is the biggest one since February this year.
Earlier in October, Binance implemented a compliance solution developed by the blockchain startup Chainalysis in order to monitor real-time transactions and identify criminal-related transfers, as well as combat money laundering.